Quote from: Sandal_Hat on March 18, 2018, 01:45:34 PM

Quote from: Mark Baum on March 18, 2018, 01:33:48 PM

Seems like everyone is missing the point entirely. This macro situation in Crypto Mining is, that it's on it's death bed. People clamoring for "competition to Bitmain " are getting their wish. One needs to look closely at what happened in the X11 network, and extrapolate that out to all Algos. D3 was and is the Harbinger of where mining profits are going. There are NO barriers to mining to speak of and MASSIVE corporations are setting up MASSIVE operations all over the world. Hence, prices are going DOWN on Crypto and difficulties are going UP. This is only the beginning of the end. No, BTC is not going up again until full implementation of lightning network. Right now there is very little "use case" for BTC. Maybe enough to support $1200 BTC but NOT $7000. Enjoy it while you can, because I promise you. There is a MAJOR SHAKEOUT coming in ALL THINGS mining. This thing got waaaay ahead of itself and there are far too many stunned morons running massive mining operations. I've never made a single wrong prediction in this space and I'm not about to start now. Within 6 months to 1 year, it will be Game, Set, Match. ( unless lightning network comes online and allows this thing to scale). Blame whoever you want but truth be told, if Bitmain didn't flood the networks, someone else would have.

That is why I say competition is stupid. There are only so many coins being released every 10 mins. More asic manufacturers means more competition and that means higher difficulty and less profits for miners and far biggest risks. See wat happen with X11, dash miners by bitmain, innosilicon and pinidea? They 3 of them flooded the market an miners lose. The antminer S9 ruled btc algo for a long time and early users of it make money. Miners make more money when bitmain has a monopoly over the coin. The worst risk is when a new miner from an asic manufacturer makes other miner obsolete.

I dont agree with the rest of the things u say though.

I don't blame you Sandal. It's not a pretty picture. But if you read through what you wrote, you're actually supporting everything I said with more anecdotal evidence. It took longer to swamp the SHA256 algo, but it IS being swamped. Even that monster can only take so much. Especially with a 70% drop in coin price.